Turnover in industry grew by 10.4 per cent in June

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in June by 10.4 per cent year-on-year. Turnover grew in nearly all main industries. The development was partly due to the exceptional situation caused by the coronavirus one year earlier. Of the main industries, turnover grew most in the forest industry, by 30.8 per cent from one year earlier. Seasonally adjusted turnover in industry (TOL BCD) grew in June by 0.4 per cent compared to May.

Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)

The turnover of mining and quarrying increased in June by 21.0 per cent and that of electricity, gas, steam and air conditioning supply by 20.6 per cent from one year earlier. The turnover of the textile, clothing and leather industry increased by 13.1 per cent and that of the chemical industry by 11.2 per cent compared to one year ago. The food industry grew by 5.0 per cent and the metal industry by 4.2 per cent. Turnover declined only in the electronic and electrical industry, by 10.5 per cent from twelve months earlier.

Annual change in working day adjusted turnover in manufacturing by industry, June 2021, % (TOL 2008)

Export turnover growing in most main industries in June

Export turnover grew in most of the main industries in June. The export turnover of mining and quarrying increased most, by 53.9 per cent year-on-year. Export turnover increased in the forest industry by 35.6 per cent and in the textile, clothing and leather industry by 19.8 per cent. Export turnover grew by 6.7 per cent in the chemical industry and by 5.8 per cent in the food industry. Export turnover decreased only in the electronic and electrical industry, by 13.5 per cent, and in the metal industry, by 0.6 per cent from one year back.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, June 2021, % (TOL 2008)

Domestic turnover increased in all main industries in June. Growth was strongest in the forest industry, 21.9 per cent, and in the chemical industry, 19.3 per cent from one year earlier. Domestic turnover in the metal industry grew by 11.2 per cent and in the electronic and electrical industry by 8.9 per cent. The textile, clothing and leather industry went up by 8.4 per cent and the food industry by 4.0 per cent. Domestic turnover in mining and quarrying increased by 2.0 per cent year-on-year.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 6/2021, % (TOL 2008)

The index of turnover in industry describes enterprises whose main industry is manufacturing. The calculation of the indices is based on the Tax Administration’s self-assessed tax data which are supplemented with data obtained with Statistics Finland’s sales inquiry. The monthly turnovers of manufacturing enterprises can vary considerably, especially in the metal industries. The variation is mainly due to invoicing practices. The final invoice for major machinery deliveries and projects may be recorded in the sales of one month, even if the delivery had required the work of several months or years.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

The data for the latest month are preliminary and are released at a delay of around six weeks. The data may become significantly revised particularly on more detailed industry levels in coming months. Revisions to the data may be particularly significant on the more accurate industry levels of export turnover and domestic turnover.

Source: Index of turnover in industry 2021, June, Statistics Finland

Inquiries: Heli Suonio 029 551 2481, Lauri Pullinen 029 551 3043, myynti.teollisuus@stat.fi

Head of Department in charge: Katri Kaaja

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Appendix tables

Appendix table 1. Annual change of working-day adjusted turnover in industries of manufacturing, % (TOL 2008) (13.8.2021)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (13.8.2021)

Revisions in these statistics

Revisions in these statistics (13.8.2021)

Updated 13.8.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. June 2021. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/tlv/2021/06/tlv_2021_06_2021-08-13_tie_001_en.html